What is the price of Ethereum today?
The price of Ethereum (1 ETH) was $2,659.14 at 8 a.m. ET. The highest intraday price for the cryptocurrency in the past year was $4,088.00 on March 12, 2024.
ethereum chart
*Return comparisons are as of 8 a.m. ET.
Ethereum is not the first altcoin, but it is the most popular and successful. This cryptocurrency was born in 2015. Its blockchain has generated tremendous growth and revenue over the past nine years.
Ethereum price history
This chart captures data as of 8 a.m. ET each day and does not display intraday highs or lows.
Ethereum’s 52-week intraday high was traded at $4,088.00 per ETH on March 12, 2024. The 52-week intraday low was $1,776.80 on November 3, 2023.
Major altcoins have changed the global financial market, with a global market capitalization of $320.32 billion. ETH is currently up 47% year over year.
Ethereum market capitalization
Ethereum's market capitalization is $320.32 billion, making it the second largest cryptocurrency after Bitcoin. The same is true for some major blue-chip stocks. These include $282 billion for The Coca-Cola Company (KO) and $263 billion for Merck & Company (MRK).
ETH is a popular choice among crypto investors. Together with Bitcoin, they account for 72% of the virtual currency market.
What is Ethereum and how does it work?
Ethereum is a blockchain-based network created to facilitate secure decentralized financial transactions. The network's native cryptocurrency is Ether.
Unlike Bitcoin, Ethereum's programmable blockchain allows users to securely verify and run code such as smart contracts and decentralized applications. Smart contracts on the Ethereum network are software applications that automatically execute on the blockchain when predetermined conditions are met.
The decentralized nature of the Ethereum network allows developers to run their programs without relying on Big Tech companies or other third parties. Rather than running software on cloud servers in large data centers owned by Google, Ethereum users can leverage Ethereum's large network of small private computers to run their applications.
Applications on the Ethereum blockchain include gaming, socializing, gambling, and decentralized finance options. The Ethereum blockchain is also home to the world's most important non-fungible tokens. NFTs are unique digital works that represent ownership of digital assets such as works of art, songs, videos, etc.
Ethereum gas price
Ethereum gas is a fee that network users pay for processing transactions and using smart contracts on the network. Gasoline costs are similar to highway tolls. Users pay these fees to use the Ethereum blockchain.
The unit of measurement for gas prices is gwei. 1 gwei is equivalent to one billionth of 1 ETH.
Ethereum price history
Ethereum price 2015-2020
Ethereum was launched in July 2015. Shortly thereafter, it hit an all-time low of 42 cents in October 2015.
But that didn't last long. In 2017, transactions increased sharply. ETH reached $1,000 for the first time in January 2018. Just two weeks later, it reached a new high of $1,300.
The rally was driven by CME Group's announcement that it will offer Bitcoin futures contracts. However, that enthusiasm faded in 2018. That year began a bear market often referred to as the “crypto winter.”
Another boom has arrived in 2020. The coronavirus disease (COVID-19) pandemic is believed to have played a major role. With the distribution of stimulus funds and low interest rates, many Americans had money to speculate.
Ethereum price 2021-2024
Ethereum nearly broke through $5,000 at the end of 2021 and reached $4,891.70 on November 16, 2021. But rising interest rates gave investors options and the market cooled again. High-profile bankruptcies, such as that of major cryptocurrency exchange FTX in November 2022, have also dealt a blow to the industry. ETH fell below $900 that year.
But a new rally occurred in 2023, creating even more optimism from investors. It lasts until 2024, and the Securities and Exchange Commission approved several Bitcoin spot ETFs in January.
The Ether Spot ETF began trading in the United States on July 23, 2024. Funding is provided by BlackRock, Fidelity, and Grayscale, to name a few. These can be found on the New York Stock Exchange, NASDAQ, and Chicago Options Exchange.
In early August 2024, the price of Ethereum plummeted after a widespread crypto selloff hit global markets. Prices were well above the $3,000 threshold on August 3rd, but fell to below $2,500 on August 4th. Currently, ETH is trading at $2,659.14.
Ethereum price and Bitcoin price
There is no doubt that Bitcoin and ETH have been great investments since the launch of Ethereum in 2015.
Last year's enthusiasm for Bitcoin spot ETFs reversed the performance gap between the two major cryptocurrencies. Bitcoin price is up 109% year over year, while Ethereum price is up 47%.
How to buy Ethereum online
One of the common ways to purchase ETH is through cryptocurrency exchanges such as Binance, Coinbase, and Kraken.
You may be more comfortable using an online brokerage that supports cryptocurrency trading, such as Interactive Brokers, Webull, or Robinhood.
Payment apps like Venmo and PayPal have options for purchasing ETH. Direct purchases are also possible at cryptocurrency ATMs.
How to keep your Ethereum safe
Anyone who purchases Ethereum directly must store their ETH in a cryptocurrency wallet. This is much like storing banknotes in a physical wallet.
A private key is required to send and receive cryptocurrencies with your digital wallet. The person who controls the wallet's private keys controls all cryptocurrencies associated with the wallet.
An Ethereum wallet can be a hardware wallet similar to a USB stick, or a software wallet app that stores ETH on your smartphone or another device. Hot wallets are connected to the internet, while cold wallets are not. Although hot wallets are generally considered more convenient, cold wallets can be safer and more secure.
Ethereum ETF
In addition to buying Ethereum directly, you can also speculate on the Ethereum market indirectly through Ethereum funds.
The SEC has approved the first wave of Ethereum futures ETFs in late 2023. These ETFs do not invest directly in Ethereum, but instead hold Ethereum futures contracts. Major Ethereum futures ETFs include VanEck Ethereum Strategy ETF (EFUT), ProShares Ethereum Strategy ETF (EETH), and Bitwise Ethereum Strategy ETF (AETH).
EtherSpot ETF debuted in July 2024. These include iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Trust (ETHE).
Regarding spot holdings, a similar decision was made for Bitcoin ETFs in January 2024. The approval of spot ETFs signals that legal battles against some cryptocurrencies are softening.
Frequently Asked Questions (FAQ)
Ethereum reached an intraday high of $4,891.70 on November 16, 2021.
Ethereum, like other cryptocurrencies, is highly volatile. It is difficult to predict whether it will go up or down. Although ETH has performed well since its inception, there is no guarantee that this performance will continue in the future. Investors should be prepared for large fluctuations and the possibility of large losses.
